In Germany, one is legally an adult at the age of 18. However, the feeling of truly being an adult can vary significantly from that. A study shows that many from Gen Z believe that one becomes truly adult
much later.
When does one feel
like an adult? When one turns 18, one is considered an adult in Germany. One can participate in any election and drive a car without supervision. However, the feeling of truly being an adult may differ from age.
Life Happens, a non-profit organization that provides information on life insurance and similar products in the USA, conducted a survey on the topic and found: The majority of respondents from Gen Z
believe that one is only an adult when one acquires life insurance.
Finances are the main topic of being an adult
What were the results of the survey? For Life Happens, Talker Research conducted a survey in September 2024 with 2,000 Americans about being an adult
. They surveyed 500 individuals each from Gen Z, Millennials, Gen X, and Baby Boomers. Corresponding to the company, the survey also focused on life insurance. The survey yielded the following results:
- The 2 most common answers to the question of when one is an adult were:
- 56 % answered ‘When one can pay their own bills’
- 45 % answered ‘When one is financially independent’
- At 27,
life, money, and the future
are said to feel real - 71 % of respondents from all generations believe that it is more difficult to be an adult today than it was 30 years ago, according to 72 % of respondents, this is due to rising living costs
Interestingly, 76 % of older generations responded that they wish they had taken finances more seriously in their 20s. Many from Gen Z are reported to start paying bills or opening savings accounts around the age of 22. At the same time, half of the respondents from Gen Z have not started doing so at all.
On the other hand, there are things that Gen Z believes they cannot afford. 47 % said they cannot afford an apartment or a house. 39 % said they cannot afford children. Additionally, 56 % of Gen Z stated that they have a larger financial responsibility than they can handle.
Gen Z starts saving for retirement earlier
Another interesting development is the age at which people start saving for retirement. While Baby Boomers reportedly started at 34, respondents from Gen Z say they would start at 22. It should also be noted that Americans, according to the survey, believe they are only financially stable at the age of 46. 40 % believe they will never be financially stable.
These thoughts align with a study conducted by Cambridge professor Peter Jones (via Zeit.de). He found that one undergoes an important maturation process until their late 20s and that one is only truly an adult after the age of 30.
The Life Happens study, of course, only refers to American respondents, but other studies also show that financial matters are an important point for Generation Z. So also the question of when one is financially successful: Generation Z believes: They need many millions of dollars to be financially successful when their parents are no longer around
